Bush's plan to loan 1.2 billion to the UN

WASHINGTON (AFP) - US President George W. Bush has asked lawmakers to approve a 1.2-billion-dollar loan to the United Nations to pay for a major renovation the UN headquarters in New York, the State Department said.

Bush, who is frequently derided by critics as a staunch foe of the multilateral diplomatic approach followed by the United Nations, included the loan request in the foreign operations section of his proposed fiscal 2005 budget which was released on Monday.

State Department spokesman Richard Boucher said the request "provided for a practical way to move forward on (UN chief Kofi Annan's)plan" to gut and modernize the 38-story green glass building on the East River over six years.

"We're offering to provide a loan to the United Nations for the full 1.2 billion dollars estimated cost of the plan," Boucher told reporters.

If approved by Congress, the United Nations would pay 5.5 percent interest, the current US Treasury rate, on the loan which would be repayable over 30 years, Boucher said.

Although he maintained the Treasury would break even on the loan in the long term, Boucher acknowledged that as the largest contributor to the UN budget, the United States would be responsible for 22 percent of the repayment costs.

Annan, who was in Washington on Tuesday meeting with Bush and Secretary of State Colin Powell (news - web sites), unveiled his ambitious renovation plan two years ago, saying he wanted it to begin in October 2004.

Built in 1949, UN headquarters is now "seriously deficient in safety, fire and building codes, energy efficiency and security requirements," Annan said in presenting his proposal.

He defended the cost, noting that repairing the building on an ad hoc and emergency basis would cost more than two billion dollars over 25 years.

Under the plan, the United Nations would be moved to a new, purpose-built tower on a New York City playground immediately south of the UN complex wile the landmark headquarters is being redone.

In return, the United Nations would give the city a strip of riverside land which could be turned into a cycling track.

Annan had proposed financing the plan with interest-free loans from UN member states over 25 to 30 years.

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Balog

February 5, 2004, 03:48 PM

I'm so glad we have a fiscal conservative who doesn't like the UN in the White House. :banghead: :barf:

buzz_knox

February 5, 2004, 03:57 PM

I'm so glad we have a fiscal conservative who doesn't like the UN in the White House.

I'm so glad that the UN will be housed in a tower we built and riddled with intelligence gathering devices during this modification, and that the HQ will be renovated by American contractors, some of whom get their checks from Langley.

Balog

February 5, 2004, 04:09 PM

buzz: that's a rather optimistic point of view. I suppose that if we assume that everything Dubya does has a special secret motive that is good; then your theory of why he is pimping out a billion of our tax dollars to a bunch of communists and other terrorists so they can fix up their building would be sound. Kinda like how he promised to renew the AWB if he got the chance, but didn't really mean it, right? :rolleyes:

Jonesy9

February 5, 2004, 04:14 PM

if they're going to help bail his but out in Iraq and send some troops before the election so he can get some nice photo ops of "the boys coming home" (all 1,000 of them if he's lucky), he has to pay the piper and send them a big bag o'cash! But 1.2 billion is peanuts compared to what we are paying ht e"Coalition" to "help" us. This is called diplomacy when we do it, bribery when anyone else does it.

"renovations" eh? Kofi needs new mahogany paneling in study, the steam from the marble roman bath has doubtless warped the old paneling by now.

scbair

February 5, 2004, 04:19 PM

If the building became delapidated enough, I had hopes the UN would pack up and move somewhere more suitable for that august body. Libya, perhaps. Let somebody else support the useless baggage.:fire:

ARperson

February 5, 2004, 05:11 PM

Wonder how the Bush apologiest are going to come up with an excu...er, I mean reason for this decision.

Although if it does happen, I think that it should happen just as buzz described. It's the least he could do for the taxpayers footing the bill.

fix

February 5, 2004, 05:19 PM

Well, at least they are charging interest on the loan. :scrutiny:

Unisaw

February 5, 2004, 05:36 PM

fix,

According to news reports, the UN expressed disappointment that interest would be charged!

HankB

February 5, 2004, 05:51 PM

Well, at least they are charging interest on the loan. Uhhh . . . where do you think the UN is going to get the money to make the payments? (Hint: Starts with a U, followed by an SA.)

If they miss a payment, is there ANY politician in DC with the intestinal fortitude to foreclose and evict them?

VNgo

February 5, 2004, 06:22 PM

I'm so glad that the UN will be housed in a tower we built and riddled with intelligence gathering devices during this modification, and that the HQ will be renovated by American contractors, some of whom get their checks from Langley.

Don't forget the nuclear self-destruct in the basement.

fmjcafe

February 5, 2004, 06:58 PM

Built in 1949, UN headquarters is now "seriously deficient in safety,

Hmmm, sounds bad. Maybe we should just tear it down and rebuild it somewhere more in keeping with the UN`s anti American sentiments. Paris maybe....:D

Jarrod Hartsfield

February 5, 2004, 07:24 PM

Personally, I would like to see the UN building decay and erode away, until it collapses in on all of those impotent bureaucrats.

I think that being buried but their own dilapidated building would be a fitting end to all the “good work” they’ve done. Not to mention that it would be a real expression of the outcome their work has produced

Waitone

February 5, 2004, 08:46 PM

. . . . .and the stupidity just keeps rolling on.

I can think of two issues that are red meat to political conservatives in this country. Issues which strke at a philosophical core. Issues destined to be a flag on the battlefield around which the faithful will gather.

Issue #1--kill the NEA.

Issue #2--get rid of the UN

The esteemed Incumbent Party's leader decides to wag it in the face of part of his base on both issues. Truly amazing behavior on the part of a man wanting to be re-elected.

I could support and outright grant of $1.2 billion for the UN, interest free and a free toaster IF THE MONEY WAS USED TO MOVE THE UN TO THE SUDAN. Since the Sudan is not in the plans I withdraw my support.

WilderBill

February 5, 2004, 09:30 PM

And if we don't loan it to them, what are they gonna do...say mean, nasty things about us?:scrutiny:

citizen

February 5, 2004, 09:46 PM

I just hope this is another one of those political postures pre-destined to fail. ("At least I tried".)
Their evacuation would be nothing but good for the U.S.; and the tax base and rental property could be a real boon to that city........:cuss:
Might even help civilize all involved.....:neener:

longeyes

February 5, 2004, 10:11 PM

All the nations of the world, among them, can't ante up $1.2 billion for something they deem so important to mankind's global future?

Let's face it, folks: the USA is what in psychospeak is called an enabler. The UN wants to subjugate us under their thrall and we help them do it. Epitome of geopolitical neurosis.

And we all know this is going to be a loan that is never paid off. The lunacy goes on.

Bainx

February 6, 2004, 08:53 AM

keep the faith, brother. I got a letter a few weeks ago from our congress critter [Duncan] stating that he has jumped on-board to support Ron Pauls legislation to get the U.S. out of the U. N. and then, the U. N. out of the U.S.

Pretty impressive!;)

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